SALT LAKE CITY — The Latest on two biodiesel executives charged in an alleged $500 million tax credit scheme (all times local):
Two Salt Lake City biodiesel executives linked to a polygamous group will stay in jail on federal charges in an alleged $500 million tax credit scheme.
U.S. Magistrate Judge Brooke Wells denied an effort Wednesday to immediately release defendant Isaiah Kingston. His lawyer Scott Williams says allegations that he would flee to Turkey if released ahead of trial are false and misleading.
Jacob Kingston's lawyer Tara Isaacson did not seek her client's immediate release but he has a detention hearing scheduled week.
Federal prosecutors say he and Washakie Renewable Energy CEO Jacob Kingston had business dealings in Turkey, access to a private jet and had been tipped off ahead of a raid in the case. They say cooperating witnesses are in danger of retaliation.
They have pleaded not guilty to creating false production records to obtain renewable-fuel tax credits and then laundering the proceeds.
Prosecutors say two executives of a Salt Lake City biodiesel company linked to a polygamous group could flee to Turkey if they are released ahead of trial on charges in a $500 million tax credit scheme.
The U.S. Attorney's Office for Utah also says in court documents unsealed ahead of a Wednesday court hearing that the men were tipped off before a 2016 raid by federal agents.
Washakie Renewable Energy CEO Jacob Kingston and CFO Isaiah Kingston have pleaded not guilty to charges alleging they created false production records to obtain renewable-fuel tax credits and then laundered the proceeds.
Prosecutors say the men are members of the polygamous Kingston group and have business ties to Turkey.
Isaiah Kingston's lawyer Scott Williams says there's little evidence against his client.
No attorney has been listed for Jacob Kingston.